Baht Depreciation Could Have Widespread Implications

[jwest10]

On 5/2/2022 at 1:59 PM, Guderian said:

Well I can only say that if the Baht's depreciating due to government policy, then they're not doing a very good job of it as the pound is depreciating even faster!!!

 

Exactly Guderian

Today 6th May now at 42.33 and yes a few years ago went down to 38 and yeah you get the currency manipulators and remember back in 2006 it was 73.
Many of us with Thai families are really struggling what with very poor exchange rates and a frozen state pension and not just this country but ex-pats in many other countries who have a frozen state pension and not all have pots of gold and families are being split everywhere.

[Isaan sailor]

32 minutes ago, morrobay said:

We will see how that works out for them. Read the article. Hello 1997

Strange how they tamp down the USD when it rises, but do nothing to prop it up when it falls precipitously.

[billd766]

I did a GBP transfer with Wise this evening and got a guaranteed rate of 42.4157 baht,

 

KBank Forex TT rate at 15:39 today was 41.9916.

BBK Forex rate at 15:15 today was 41.985.

XE Forex mid rate is 42.42073.

 

It is interesting that my Wise transfer also goes into my BBK account, but the Wise rate is much better.

Edited May 6, 2022 by billd766
Added extra text

[RedArmy]

Would it work out any better on WISE to convert pounds to USA dollars, then to Baht ???

[morrobay]

4 minutes ago, Isaan sailor said:

Strange how they tamp down the USD when it rises, but do nothing to prop it up when it falls precipitously.

Unfortunately with over $200 billion in foreign currency reserves they can run this baht overvalued game for a long time. The same groups that benefit from overvalue are also In position to "manage" the baht. Not only can they buy property in London on the cheap - the added plus  here is the hardship on foreigners the overvalued baht causes . And it's no secret that the elites do not want foreigners coming over buying up girls on the cheap. Ill let the economists and socialologists comment on how sustainable this policy is .